AN ANALYSIS OF PURCHASE BEHAVIOR OF CONSUMERS BUYING BRANDED SHOES

Abstract

The present study attempts to analyse the purchase behaviour of consumers towards branded shoes through an extensive primary research survey. The core objectives were to extract the critical factors influencing consumer purchase decisions, assess brand loyalty and satisfaction levels, and gain comprehensive insights into consumer preferences and perceptions regarding their choices of branded footwear. The research methodology employed a structured questionnaire that was meticulously administered to a sample of 102 respondents spanning diverse demographic profiles. The sample composition consisted of 53.9% male and 46.1% female respondents, with a majority (52.9%) falling within the age bracket of 25 years or below. The income levels of the respondents exhibited considerable variation, with 36.3% earning an annual income of up to Rs 100,000, while approximately 65% reported earnings below the Rs 200,000 per annum threshold. In terms of educational qualifications, one-third of the respondents had acquired graduate degrees, while another one-third had pursued post-graduate studies. The analysis revealed price as a predominant factor wielding substantial influence, with around 75% of respondents acknowledging its impact on their purchase decisions. Notably, a majority (58.8%) of respondents self-identified as price-sensitive consumers. However, brand loyalty emerged as an equally crucial determinant, with a considerable 69.3% of respondents asserting their status as loyal customers of their preferred brands. Satisfaction levels towards preferred brands were observed to be elevated, with 79.4% of respondents expressing satisfaction. Among the satisfied cohort, 31.7% reported being highly satisfied, while 47.5% expressed satisfaction with their brand choices. The key drivers propelling satisfaction encompassed quality considerations (83.2% satisfied), perceptions of favorable price ranges (75.2% satisfied), and the belief that their brands were well-priced (69.6% in agreement). Interestingly, in the event of price increases for their preferred brands, 52.5% of respondents indicated their willingness to continue purchasing from the same brand, while 27.7% expressed inclinations towards switching to more economical alternatives, and 19.8% contemplated exploring other brand options. Comfort (57%), the latest stylish designs (28%), and affordable pricing (8%) emerged as the top specialties associated with preferred brands. The primary factors influencing brand choices were identified as quality (51.5%), durability (26.7%), and price (13.9%). Advertising played a pivotal role for 75.2% of respondents in the selection of brands. Celebrity endorsements exerted some impact for 46.6% of respondents, while 14.9% remained uninfluenced by such endorsements. Remarkably, when presented with the prospect of acquiring the same quality at lower prices, 63% of respondents expressed openness to switching brands. An analysis of variance (ANOVA) revealed no significant relationships between demographic factors such as gender, age, income, or educational levels and satisfaction levels concerning branded shoes. The research identified six key factors driving purchase behaviour that is brand recognition, uniqueness, comfort, utility, exposure to personality, and brand loyalty, wherein Brand recognition and loyalty emerged as the most crucial elements shaping consumer decisions. Family members, friends (31.7%), and advertisements (27.7%) were identified as the top influencers in brand selection. Discounts (44.6%) emerged as the most preferred promotional tool, followed by free gifts and lucky coupons (21.8% each). The findings accentuate the importance of striking an optimal balance between pricing strategies and quality perceptions, coupled with a keen emphasis on comfort factors, to enhance brand loyalty and foster customer satisfaction. Brands should concentrate their efforts on offering unique designs, superior quality, durability, comfort, reasonable pricing, effective advertising campaigns, engaging promotions, and nurturing customer relationships to maintain a competitive edge. Maintaining an optimal price-quality balance through competitive pricing strategies aligned with perceptions of quality, durability, comfort, and distinct brand value is imperative. Prioritizing product quality, innovative designs, comfort features, and variety is crucial to meet evolving consumer preferences and drive brand loyalty. Leveraging advertising campaigns, celebrity endorsements, and targeted promotions like discounts and gift offers can enhance brand visibility and appeal. Fostering brand recognition and loyalty through consistent marketing, customer engagement, easy availability, and efficient after-sales support is vital. Regularly monitoring consumer sentiments, trends, and the competitive landscape is necessary to realign brand positioning and product offerings as needed. Furthermore, exploring expansion into e-commerce platforms and strengthening online presence can cater to evolving shopping preferences. In conclusion, the branded shoe industry is highly competitive, characterized by consumers exhibiting a blend of price sensitivity and brand loyalty. By effectively balancing product quality, design innovation, comfort factors, reasonable pricing, and engaging marketing strategies, brands can enhance customer satisfaction, cultivate loyalty, and gain a sustainable competitive advantage. Continuously adapting to evolving consumer preferences and market dynamics will be crucial for long-term success in this dynamic industry.